AEX index

AEX index
base data
Country	Netherlands
Stock exchange	Euronext Amsterdam
ISIN	NL0000000107
WKN	969241
symbol	A25
RIC	^ AEX
Bloomberg code	AEX <INDEX>
category	Stock index
Type	Price index
family	Euronext

The AEX index (proper spelling: AEX index , the Amsterdam Exchange index) is the share index of the stock exchange in Amsterdam , Netherlands , which at the Euro next Amsterdam is calculated.

calculation

The AEX index is a price index. It includes up to 25 public companies that are traded on Euronext Amsterdam . The index level is determined solely on the basis of share prices and only adjusted for income from subscription rights and special payments. The calculation is updated every second during trading hours from 9:00 a.m. to 5:30 p.m. CET . The determination of the index members is based on criteria that tend to be exceptions on an international scale. What stands out is the condition that at least 10 percent of the outstanding shares must have been traded for a given value in the year - a tribute to the fact that many securities are rather thin in trading despite high market capitalization .

The focus on liquidity and free float instead of the market value is also expressed by the fact that at least a quarter of the shares outstanding must be widely diversified. When determining the free float value relevant for the weighting, a combination is made into classes: For free float between 25 and 50, 50 and 75 and 75 and 100 percent, the upper class limit is used as the weighting factor. Originally, a decision was made on every third Friday in February about which stock corporations should remain in the index and which should be replaced and whether the weighting of the individual stocks had to be adjusted. The changes are now made quarterly.

history

20th century

AEX index 1982–2012

The leading Dutch index started on March 4, 1983 under the name EOE-index , named after the former European Options Exchange (EOE). It is defined in such a way that on January 3, 1983 the index would have assumed the value of 100 guilders ( 45.38 points converted into euros ). On October 19, 1987, the stock index suffered the largest daily loss in its history at 12.00 percent. The reason was Black Monday on the New York Stock Exchange , when the value of the Dow Jones Industrial Average plummeted 22.6 percent.

As a result, volatility increased . On October 26, 1987 the index posted the second highest daily loss with 9.27 percent and on November 1, 1987 the largest daily gain with 11.83 percent. On January 1, 1994, the EOE index was renamed AEX index . On August 7, 1997, the share index passed the 1,000-point mark for the first time (in euros: 453.78 points).

On January 4, 1999, trading in euros began on the Amsterdam Stock Exchange . The Dutch stock exchange chose a special procedure for converting the AEX to the common European currency. While all other countries in the euro zone adjusted their index calculations so that the index trend maintained its continuity, the rates in the AEX changed according to the rate of 2.20371 guilders for 1 euro set at the time. This corresponds to a division in the ratio of 21:16. This meant that all products based on the leading index also had to be adapted.

On September 4, 2000, the index marked an all-time high with a closing level of 701.56 points (in euros).

21st century

After the speculative bubble burst in the technology sector ( dot-com bubble ), the share index fell to a low of 218.44 points by March 12, 2003. That was a decrease of 68.9 percent since September 2000. March 12, 2003 means the end of the downward slide. From spring 2003 the AEX began to rise again. By July 16, 2007, the share index rose to a closing level of 561.90 points. Since the low in March 2003, the profit is 157.2 percent.

In the course of the international financial crisis , which had its origin in the US real estate crisis in the summer of 2007, the AEX began to decline again. On July 11, 2008 the index closed with 391.98 points below the limit of 400 points and on October 8, 2008 with 285.66 points below the mark of 300 points. Between the end of 1998 and the end of 2008, the AEX index was the worst index in the world after the Icelandic stock exchange (−81.72 percent) with a loss of 45.68 percent.

Due to the fear surrounding the real estate crisis, volatility increased. On October 6, 2008, the index posted the third-largest daily loss in its history with 9.27 percent. On October 13, 2008, the AEX achieved the second-largest daily profit with 10.55 percent and on November 24, 2008, the third-largest daily profit with 10.29 percent. The index hit a new low on March 9, 2009 when it closed trading at 199.25 points. Since July 16, 2007 this corresponds to a decrease of 64.5 percent.

March 9, 2009 marks the turning point of the downward trend. From spring 2009, the AEX was on the way up again. By February 18, 2011, it rose by 87.8 percent to a closing level of 374.19 points. The weakening of the global economy and the worsening of the euro crisis led to a slump in the Dutch benchmark index. On September 22, 2011, the AEX ended trading at 263.44 points. The loss since the high on February 18, 2011 is 29.6 percent.

The announcement of new bond purchase programs by the European Central Bank and the US Federal Reserve , which are basically unlimited, led to a recovery in prices on the stock market. The monetary stimulus played a bigger role in the price formation than the global economic slowdown and the state of the companies. On January 4, 2013, the index closed at 351.73 points, 33.5 percent higher than on September 22, 2011.

Highs

The overview shows the all-time highs of the AEX index.

	Points	date
in the course of trading	703.18	Tuesday September 5, 2000
on a closing price basis	701.56	Monday 4th September 2000

Milestones

The table shows the milestones of the AEX index in euros.

First close over	Final score in points	date
150	150.66	July 8, 1993
200	202.86	July 7, 1995
250	250.64	April 22, 1996
300	300.25	January 15, 1997
350	350.66	May 1, 1997
400	407.09	3rd July 1997
450	450.56	July 28, 1997
500	503.14	March 13, 1998
550	553.53	May 25, 1998
600	604.11	November 16, 1999
650	653.65	December 22, 1999
700	701.56	September 4, 2000

The best days

The table shows the best days of the AEX index since 1983.

rank	date	Final score in points	Change in points	Change in%
1	Nov 11, 1987	77.32	8.18	11.83
2	Oct 13, 2008	285.27	27.22	10.55
3	Nov 24, 2008	245.86	22.93	10.29
4th	13 Mar 2003	240.25	21.81	9.98
5	Oct 21, 1987	101.38	8.55	9.21
6th	Oct 29, 2008	259.58	21.62	9.09
7th	Nov 12, 1987	84.05	6.73	8.71
8th	19 Sep 2008	381.83	30.17	8.58
9	0Dec 8, 2008	248.12	18.68	8.14
10	Oct 15, 2002	340.59	24.46	7.74
11	July 29, 2002	361.87	25.80	7.68
12	May 10, 2010	335.24	22.89	7.33
13	14 Mar 2003	257.33	17.08	7.11
14th	0Jan. 5, 1988	82.08	5.28	6.87
15th	Oct 20, 2008	269.41	17.15	6.80
16	0Nov 4, 2008	291.13	18.12	6.64
17th	26 Sep 2002	319.78	19.83	6.61
18th	Jan. 24, 2008	444.23	27.10	6.50
19th	0Oct 6, 1998	398.50	22.18	5.89
20th	Jan. 26, 2009	247.88	13.74	5.87
21st	Sep 24 2001	419.04	22.81	5.76
22nd	Oct 12, 1998	408.25	22.03	5.70
23	0Apr 7, 2003	285.89	15.36	5.68
24	10 Mar 2009	210.44	11.19	5.62
25th	July 25, 2002	336.13	17.67	5.55
26th	Oct. 30, 1987	87.91	4.66	5.60
27	Oct 11, 2002	317.75	16.27	5.40
28	0May 1, 1998	539.01	27.32	5.34
29	Jan 15, 1988	80.96	4.01	5.21
30th	0Apr 2, 2009	232.05	11.35	5.14

The worst days

The table shows the worst days on the AEX index since 1983.

rank	date	Final score in points	Change in points	Change in%
1	Oct 19, 1987	98.67	−13.46	−12.00
2	Oct 26, 1987	85.51	−8.74	−9.28
3	0Oct 6, 2008	312.56	−31.46	−9.15
4th	29 Sep 2008	323.55	−31.03	−8.75
5	Oct 10, 2008	258.05	−23.92	−8.48
6th	0Oct 8, 2008	285.66	−23.78	−7.69
7th	Oct 15, 2008	263.00	−21.51	−7.56
8th	Sep 14 2001	426.50	−33.36	−7.25
9	Oct 22, 1987	94.04	−7.34	−7.24
10	0Nov 9, 1987	72.33	−5.55	−7.13
11	July 22, 2002	342.83	−25.48	−6.92
12	Nov 30, 1987	72.27	−5.31	−6.84
13	0Dec 1, 2008	235.50	−17.05	−6.75
14th	0Nov 6, 2008	260.61	−18.83	−6.74
15th	24 Mar 2003	260.34	−17.75	−6.38
16	Sep 12 2001	452.92	−30.61	−6.33
17th	Sep 30 2002	296.36	−19.38	−6.14
18th	Jan. 21, 2008	422.45	−27.63	−6.14
19th	Jan. 12, 1987	107.53	−6.80	−5.95
20th	Oct 28, 1987	83.04	−5.25	−5.95
21st	0Aug 1, 2002	342.04	−21.55	−5.93
22nd	Oct 20, 1987	92.83	−5.84	−5.91
23	July 15, 2002	368.01	−23.00	−5.88
24	Oct 16, 2008	248.04	−14.96	−5.69
25th	Dec. 28, 1987	76.89	−4.42	−5.44
26th	Jan. 13, 1999	507.29	−28.95	−5.40
27	Feb. 24, 2003	267.67	−15.23	−5.38
28	Oct 22, 2008	255.08	−14.28	−5.30
29	0Oct 2, 1998	385.08	−21.50	−5.29
30th	05th Mar 2009	200.58	−11.00	−5.20

Annual development

The table shows the annual development of the AEX index since 1982.

year	Final score in points	Change in points	Change in%
1982	45.38
1983	73.21	27.83	61.33
1984	85.75	12.54	17.13
1985	121.50	35.75	41.69
1986	114.69	−6.81	−5.60
1987	77.87	−36.82	−32.10
1988	117.68	39.81	51.12
1989	136.59	18.91	16.07
1990	104.01	−32.58	−23.85
1991	125.72	21.71	20.87
1992	129.71	3.99	3.17
1993	187.99	58.28	44.93
1994	188.08	0.09	0.05
1995	220.24	32.16	17.10
1996	294.16	73.92	33.56
1997	414.61	120.45	40.95
1998	538.46	123.85	29.87
1999	671.41	132.96	24.69
2000	637.60	−33.81	−5.04
2001	506.78	−130.82	−20.52
2002	322.73	−184.05	−36.32
2003	337.65	14.92	4.62
2004	348.08	10.43	3.09
2005	436.78	88.70	25.48
2006	495.34	58.56	13.41
2007	515.77	20.43	4.12
2008	245.94	−269.83	−52.32
2009	335.33	89.39	36.35
2010	354.57	19.24	5.74
2011	312.47	−42.10	−11.87
2012	342.71	30.24	9.68
2013	401.79	59.08	17.24
2014	424.47	22.68	5.64
2015	441.82	17.35	4.09
2016	483.17	41.35	9.36
2017	544.58	61.41	12.71
2018	487.88	−56.70	−10.41

composition

The AEX index is made up of the following companies (as of June 1, 2020).

Companies	Branch	Index weighting in%	logo
ABN AMRO	Banks	0.49
Adyen	Financial service providers	5.03
Aegon	Insurance	0.74
Ahold Delhaize	retail trade	4.37
AkzoNobel	chemistry	2.64
ArcelorMittal	steel	1.04
ASM International	mechanical engineering	0.90
ASML	mechanical engineering	17.87
ASR Nederland	Insurance	0.59
DSM	chemistry	3.68
Galapagos	Pharma	1.37
Heineken	brewery	3.39
IMCD	Chemical trade	0.79
ING Group	Banks	4.12
Just Eat Takeaway	Food delivery services	2.17
KPN	telecommunications	1.37
NN Group	Insurance	1.46
Philips	electronics	6.43
Prosus	Holdings	5.29
Randstad Holding	Services (temporary work)	0.75
RELX	Publishers	7.73
Royal Dutch Shell (A)	oil and gas	11.98
Unibail-Rodamco-Westfield	property	1.23
Unilever	Consumer goods	11.22
Wolters Kluwer	Publishers	3.31

See also

• Category: Companies in the AEX

Web links

• AEX index factsheet , Euronext

Individual evidence

1. ↑ http://indices.nyx.com/sites/indices.nyx.com/files/aex_family_rules_version_13-01_jan_2013-2.pdf  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.  
2. ↑ Amsterdamtrader: In the long run, we're all dead , January 7, 2009
3. ↑ ^{a b c d e f} Stooq: Historical courses
4. ↑ 1Stock1: AEX Index (The Netherlands) Yearly Returns
5. ↑ Euronext: AEX INDEX